November 28th. XBTUSD Bitmex Chart Analysis (BitCoinGuide)

2019年11月28日

Hello, it’s BitcoinGuide.


It’s been a quite busy day for me.


But today, I also prepared trading strategy which took about 2 hours.
If this is helpful, please “Follow” me and press “Likes”.


Now let me begin XBTUSD Bitmex Chart Analysis for November 28.







The above shows 30 minutes chart for yesterday.


It showed quite an interesting movement.


We saw a precise short position entry point along with route B,
(It was stronger than expected, suspicious movement)


After, the route changed from B to A.
Rather, the wave of route A expanded much more than expected.


In case of yesterday, if you have seen my latest analysis,
You could realize there has been a change in patterns.
(There are wave patterns based on my analysis. And it continuously changes according to the direction of movement)


Yesterday, I closed my short position and waited for “Dead Cross” for 4H chart.
However, it showed a sharp rise.


This kind of movement can be called “variable”


It’s quite hard to understand according to chart flow.
And it would be very hard to make profit except those who have been persevering loss and waiting for this.


There are 5 principles that I emphasize every morning.
Which are,


1. Do not rush for one you missed

2. Enter “long position” on supporting line,
And enter “short position” at middle line

3. Buy or Sell with “limit price" / Patience for “Short Position”
(In case of short position, wait on middle line, but if it touches the resistance line, wait for the next wave)

4. Don’t forget “stop-limit price”

5. Among 2 positions a day, If you successively lose twice, set “limit price” on final entry point and close the day


The price reached the resistance trend line for 4H chart,
So in principle, you should have closed your position with short profit from the short position.


Furthermore, there are lots of people who worry about hacking incident from Upbit,


Bitcoin futures trading is used by investors from worldwide,
Believe it or not,
It has less chance of huge impact from one exchange market.


I also explained about this last time.







Today’s strategy.


It’s 30M chart.


I will briefly summarize the important sections.


Please focus on the upper red trend line and below orange line.


1. Please check route A(long position) and B(short position) with entry points and prices.

2. If it moves along with route A, check whether it goes down below orange trend line, and enter long position on $7,547 (If it goes down, it has more chance for route B)

3. Along with route B, wait for short position.
Check whether the price touches the resistance line of 30M chart Bollinger Band twice.
(If it touches twice, it has more chance for route A, please confirm the recent moving pattern)


Additional explanation,

*Long position, and short position have totally different way of operation.
This is why short lovers disappeared a lot.
According to your trading style, it is recommended that you should ponder your difficulties.


This is it for today.


In face, we have yet to face uptrend.


The safe zone is yet to come.
From the above, weekly chart, and monthly chart are suppressing with downtrend signal.


So at least, the price should go above $8,500, where it has much evidence that the downtrend is invalidated.


Just for your reference,


The price should be supported without any huge drop.
Or else, Drastic fall rather should come early in order for uptrend that everyone waits for.


I will come back to you with FX analysis in the afternoon

Fighting




(Translation help.
Jae Ho Shin)